The Barack Ferrazzano is acting as legal counsel to QCR Holdings, Inc. in connection with the pending acquisition of Bates Financial Advisors, Inc., Bates Financial Services, Inc., Bates Securities, Inc., and Bates Financial Group, Inc.
The Bates Companies are a $700 million asset financial planning services firm headquartered in Rockford, Illinois. Established by George E. Bates in 1984, the acquisition and merger of the Bates Companies into Rockford Bank & Trust (“RBT”), a wholly owned bank subsidiary of QCR Holdings, will enhance RBT’s wealth management services.
Under the terms of the agreement, QCR Holdings will acquire 100% of the Bates Companies’ outstanding common stock for an aggregate consideration of $3 million cash and up to $3 million of QCR Holdings common stock. In a private placement exempt from registration with the Securities and Exchange Commission, QCR Holdings expects to issue upon closing approximately $1 million of QCR Holdings stock. The transaction is subject to regulatory approvals and the satisfaction of customary closing conditions. It is expected to close late in the second quarter or early third quarter of 2018.
QCR Holdings, Inc. is the holding company for the Quad City Bank and Trust Company. The company, led by Douglas M Hultquist, Larry J Helling and Thomas Budd, in 2017 recorded $166 Million Revenues.
Barack Ferrazzano’s team was led by Brent McCauley (Picture) and Abdul R. Mitha.
Law Firms: Barack Ferrazzano;
Clients: QCR Holdings, Inc.;